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Brexit Poll

Brexit Poll

How many of us think staying in the EU would be good for our and kids future? The blog is aimed at sharing my personal views on Britain’s membership of EU. Having read and listened to both sides, i have come to the following conclusion. Britain will be better off OUTSIDE the EU and it is mainly because of these reasons

In order to develop free trade and take advantages of the British Pound it is better to go it alone. After all the fiscal union with EU did not happen for a reason. So we can have full control on our currency and it convertibility when compared to other currencies.

The big three economies which will dominate the world for the next 50 years will be China, India and the United States. There is enough evidence that this is already happening and having direct trading relationships and ties / agreements with them would be beneficial for all of us. It would mean cheaper prices on goods that we import from these countries. Also the GBP to their currency convertibility will appreciate meaning imports will be cheaper.

Many multi-national companies which over the years have moved office abroad, or centralised their operation in Europe/ Netherlands/ Ireland will be forced to re-look and open subsidiary operations in UK. This would also mean more taxes for HMRC in the long run, as these subsidiaries will have to book all their income from sales within the UK

Job creation will be boasted in the short term and in the long term people will like to work in the UK, due to the friendlier laws and working rights and safe environment.

Immigration will be controlled from inside and outside the EU, as leaving the EU means, that people wanting to come to UK will have to pass or go through some point based system which will eventually decide the requirement of skills and talent is vital for 21st Century Economy. Fields like Microbiology, Robotics, Medical Engineering, Nano Technology, IT, Defence, STEM, Medicine, IP based technology, nuclear etc would dominate the future manufacturing and production within which UK require talent and immigration.

Leaving the EU, would also mean that jobs become plentiful and the minimum wage would rise. This is supported by the fact the people from outside the EU which take up jobs that British people don’t want to do, will see a increase in wages. These will be picked up by the young people rather than working as apprentices.

Then there are other areas, which need research and data to back up the thought below

Defence spending should rise, which would be mean more jobs as the country will look after its own borders and security. The recent reduction in defence forces by 30,000 in the last few years, would mean that in the next decade or so, this would go back up and jobs will be created.

Energy prices – our Gas, fuel and electricity should become cheaper, as we would be able to negotiate better prices from Russia and Qatar and Iran. The trade deals with these countries which are currently (exception of Qatar) have sanctions or coming out of sanctions and are keen to develop long term and direct relationships with UK. As the 5th Largest Economy in the World we knock a strong punch and the prices should fall in the next few years

Expats and Expertise – a lot of Brits can expect to set up businesses for expansion especially in countries like India and Africa (South Africa, Tanzania, Kenya, Nigeria, Egypt, Ghana) the growing countries as they need Britain’s expertise in modernizing in various sectors like Energy, infrastructure, Nuclear Energy, Construction, Sports, Education etc.

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In my conversations with friends and their friends, the main fears of leaving the EU are as below and i will address a few of them

Holidays and visa’s will be required – here i would say that even if we decide to leave the EU, there will be 2 year negotiations to discuss the key issues that UK & EU will work and cooperate so that they are not effected. Movement of people for tourism purposes will not change. I don’t think we will need Visas to travel to EU and vice versa. Our holidays should become cheaper if not remain same because the Pound will appreciate against the Euro and this would mean, we will again see the same conversion rates of 1: 1.5 which we have seen in 2005-07. so holidays will become cheaper.

Expats: People working in EU and essentially based outside the UK, will have to pay tax in that country. But again, this will be discussed and negotiated as nearly 2 million Brits work and stay in EU.

What the Government pollsdon’t tell is how many EU citizens live and work in the Britain. Is this number greater or smaller than the 2 million living outside Britain?

How is the common man affected and what does it mean for me?

Jobs will increase and salaries should rise in the next 2-5 years of leaving the EU

The prices of goods will become cheaper – Grocery shopping would be cheaper

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